359. Subsequent procedure.

After service of the landlord's counter-notice, negotiations will then ensue between the nominee purchaser1 and the reversioner for the contract and then for completion of the acquisition. The conveyance must comply with the Leasehold Reform, Housing and Urban Development Act 19932. Provided the purchase price is paid to the landlord's lender, the property is discharged from the landlord's mortgage3. If the landlord fails to serve a counter-notice within the time limit stated in the initial notice